Increasing prices: Food Producers turn to Synth. Vanilla

spizes.com

Date :7/30/2003
Time :2:14:04 PM

The ever rising Vanilla prices in the international market are forcing the food manufacturers all round the globe towards synthetic vanilla substitutes. This has resulted in a drop in the demand for natural vanilla. Vanilla is the most sought out flavour among the food lovers and it is recently voted as one among the top five flavours in US.

According to ITC/UN Statistics the total global demand for vanilla is projected at about 2000 to 3000 metric tonnes a year with the world market for vanilla beans highly concentrated in a few developed countries.

The market for vanilla stood at 2200 tonnes/year in 2000. But the arrival of vanilla into international market was badly hit, as a devastating hurricane in Madagascar, the world's biggest vanilla producer, destroyed about 35 % of the crop and 15 % of the stocks. Due to this the prices have risen from $ 25 - $ 40/kg in 1999 to their present level of $ 200-$ 230.

US, France and Germany account for about 80 % of world imports, the US absorbing 50 to 60 %, France and Germany between 10 to 15 % each. These three countries are also major re-exporters of both vanilla beans and processed vanilla products.

News Links:

Vanilla among Top 5 Flavour in US (28 July 2003)

Uganda Vanilla exports to US fetches $968,000 in '02 (12 July 2003)

Vanilla dealers in Busoga, Uganda feels cheated (11 July 2003)

Uganda has 'NO' vanilla to harvest in July (5 July 2003)

Harvesting of immature Vanilla to cost Uganda (20 July 2003)

Natural Vanilla prefered over Synthetic variety (9 June 2003)

For More Vanilla News CLICK here

STATISTICS

Vanilla - Export/Import figures 2002

VANILLA - Export/Import figures of 2001

Vanilla Exports from Producing countries

Vanilla- World Production in 2000

For More Vanilla Statistics CLICK here

For Vanilla Crop Reports CLICK here

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